Revenue.
Author | Williams, Michael |
Position | 2007 Alaska Forecast - Excerpt |
The Alaska Department of Revenue creates an official forecast of Alaska State Revenue and the most recent version was released Nov. 30, 2006. The information, in part, for this article is taken from the official forecast at http://www.tax.state.ak.us/sourcesbook/. Three factors dominate the forecast: pipeline closures on the North Slope, high crude oil prices, and a new production tax. Taken together, these result in projected oil revenue of about $4.3 billion for general fund unrestricted revenue for FY07 and represent about 88 percent of the State's discretionary income.
The department forecast for ANS crude oil production is about 740,000 barrels per day (b/d) for FY07. This is a 13 percent decline from FY06 and is partially attributed to oil production that was shut in due to pipeline corrosion issues at Prudhoe Bay, Lisburne and Milne Point.
The department forecasts that ANS crude oil prices on the West Coast will average $59.15 per barrel for FY07-about 3 percent lower than...
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